Hot Stock under Review: Libbey Inc. (NYSE: LBY)

TOLEDO, Ohio, June 28, 2019 – Shares of Libbey Inc. (NYSE: LBY) jumped 5.17% to $1.83. The stock grabbed the investor’s attention and traded 211.806K shares as compared to its average daily volume of 189.79K shares. The stock’s institutional ownership stands at 69.80%.

Libbey Inc. (LBY) reported a loss of $4.50M in its first quarter.

First-quarter 2019 Financial & Operating Highlights:

  • Net sales were $175.00M, contrast to $181.90M in the prior-year period, a 3.8 percent decrease (or a decrease of 2.1 percent, excluding a $3.20M currency impact).
  • Gross profit was $34.00M, or 19.4 percent of net sales contrast to $33.70M or 18.5 percent of net sales in the first quarter of the prior year.
  • Net loss was $4.50M, contrast to a net loss of $3.00M in the first quarter of 2018.
  • Adjusted EBITDA was $9.70M, contrast to $11.90M in the first quarter of 2018.
  • E-commerce sales were about 13 percent of total U.S. & Canada retail sales, a boost of about 39 percent contrast to the first quarter of 2018.

Balance Sheet and Liquidity:

  • The Company had available capacity of $46.40M under its ABL credit facility at March 31, 2019, with $45.00M in loans outstanding and cash on hand of $15.00M.
  • At March 31, 2019, Trade Working Capital, defined as inventories and accounts receivable less accounts payable, was $216.40M, a $0.50M increase from $215.90M at March 31, 2018. The increase was a result of higher inventories, partially offset by lower accounts receivable and higher accounts payable.

LBY has a market value of $38.99M while its EPS was booked as $-0.43 in the last 12 months. The stock has 22.41M shares outstanding. In the profitability analysis, the company has gross profit margin of 19.50% while net profit margin was -1.20%. Beta value of the company was 1.82; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.50.